Oil Spill would cost Mumbai $4 Billion.

Four billion dollar of trade will be lost if the oil spill off the Mumbai coast is not dealt with by the weekend.

Samson Oil & Gas Limited advises that the Company has engaged EnerCom, Inc. to provide management consulting services.

InterOil Corp., the Canadian energy company whose shares surged fivefold last year, may sell a smaller stake in oil and gas areas in Papua New Guinea after the size of the deposits soared, a company official said.

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Mumbai fishermen ignore the danger from the oil spill.

As the crisis related to the oil spill off the Mumbai coast becomes bigger, it’s business as usual in the metropolis.

BP will use revenue from its U.S. oil and natural gas production as collateral for the $20 billion trust fund established to pay victims of the Gulf oil spill but one public advocacy group is worried that the deal would make the government too cozy with BP.

After months of setbacks in efforts to permanently plug the deepsea well, BP said heavy drilling mud injected into it on Tuesday was stemming the flow of crude.

Jude    Maritime News, News     BP, Debris, deepsea well, Fishermen, Gulf oil spill, hazardous chemicals, heavy drilling, mangroves, metropolis, MSC Chitra, Mumbai Coast, Mumbai Docks, natural gas, oil, oil slick, oil spill, static kill, toxic chemical bottles, U.S.

Alabama receives more support for offshore drilling.

Though the Alabama coast was directly affected by the massive oil leak in Gulf of Mexico, voters in the state still strongly support offshore and deepwater oil drilling.

Iraq has the world’s third- largest oil reserves, a third bidding round for gas fields was delayed until the 1st of Oct.

Wapiti Oil & Gas, LLC is pleased to announce the purchase of $s 130 million in oil and gas exploration and development assets from Delta Petroleum Corporation.

Jude    Maritime News, News     * Alabama coast * massive oil leak * Gulf of Mexico * Iraq * oil reserves * Oil Ministry * Petroleum Contracts * Wapiti Oil & Gas * Delta Petroleum Corporation * Rocky Mountains * Texas Gulf Coast

Latest on the Mumbai Oil Spill.

Captain Mandeleno Ranjit Martin had said in his bail plea that the collision happened because of a navigational error which was caused by the failure of radio communication.

BlackPearl Resources Inc.The oil and gas explorer posted a second-quarter loss of 4 Canadian cents a share. Analysts expected a loss of 3 cents in a Bloomberg survey.

United States Oil and Gas Corp announced today that its registration statement on Form 10 as amended, filed with the Securities and Exchange Commission to register its common stock pursuant to Section 12(g) of the Securities Exchange Act of 1934, is now effective.

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Latest on the Mumbai Oil Spill.

Captain Mandeleno Ranjit Martin had said in his bail plea that the collision happened because of a navigational error which was caused by the failure of radio communication.

BlackPearl Resources Inc.The oil and gas explorer posted a second-quarter loss of 4 Canadian cents a share. Analysts expected a loss of 3 cents in a Bloomberg survey.

United States Oil and Gas Corp announced today that its registration statement on Form 10 as amended, filed with the Securities and Exchange Commission to register its common stock pursuant to Section 12(g) of the Securities Exchange Act of 1934, is now effective.

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Major oil spill threatens Mumbai Coast.

An environmental disaster is threatening the Maharashtra coast after Saturday’s ship collision off the Mumbai harbour.

Oil and natural-gas rigs operating in the U.S. rose for a ninth consecutive week, as drilling in Texas jumped, according to data published by Baker Hughes Inc.

Crude oil rose for the first time in four days amid optimism fuel demand will increase because of improved prospects for an economic recovery in the U.S., the world’s biggest energy user.

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Operation ‘Bullhead’ might kill BP oil well permanently.

BP’s volatile oil well in the Gulf of Mexico may finally be locked down and filled with cement within a matter of days.

Iran’s main economic partner China has invested around 40 billion dollars in the Islamic republic’s oil and gas sector, a senior Iranian official said on Saturday.

Jude    Maritime News, News     Beijing, BP, China, Chinese imports, demand for oil, financial crunch, gasoline, Gulf of Mexico, Hossein Noqrehkar Shirazi, install a tight-fitting cap, Iranian oil, Islamic republic, Macondo well, oil and gas pipeline projects, oil and gas sector, oil demand, oil exports, oil from leaking into the gulf, oil rise, oil shortage, oil well, OPEC, petrochemicals, Petroleum Products, pump heavy drilling mud, refineries, static kill, Tehran's oil exports

If Pakistan can then why can’t India ?

Pakistan has decreased its domestic fuel prices thus bringing them in line with international rates after the cost of crude oil declined.

The seemingly limitless amounts of oil spewing into the Gulf of Mexico this year left many Americans feeling powerless.

Bob Dudley’s sudden rise to the top at BP shows how the oil spill in the Gulf of Mexico has dramatically changed the fortunes of people from local fishermen to corporate executives.

Jude    Maritime News, News     Americans, Arab Gulf petroleum, Bob Dudley, BP, British oil giant, crude oil, Deepwater Horizon, European union, Gulf of Mexico, h domestic fuel prices, Islamabad, kerosene oil, light diesel oil, Oil & Gas Regulatory Authority, oil spill, oil spill update, Pakistan, President Barack Obama

Exxon and Shell quarterly profits soar.

The two biggest non government-controlled oil companies in the world have relied on natural gas to drive production growth in the second quarter, a fuel that is traditionally less profitable than crude.

Oil & Natural Gas Corp.’s profit may rise from this quarter after the government more than doubled natural gas prices and freed gasoline rates from state’s control.

Statoil ASA Thursday posted a 9.4% rise in operating profit, buoyed by an increase in production and higher oil prices, but the earnings were well below expectations and the company said the situation for deep-water drilling in the Gulf of Mexico is uncertain after BP PLC’s massive spill.

Jude    Maritime News, News     BP PLC's massive spill, crude, deep water drilling, drilling moratorium, Exxon, Gulf of Mexico, higher oil prices, natural gas, New Delhi, oil companies, oil spill update, Shell, Statoil ASA

Another oil spill near Louisiana coast.

An oil platform was hit by a tugboat and is now spewing oil and natural gas near a Louisiana marsh area.

ConocoPhillips said on Wednesday that it would sell its entire holdings in the Russian oil company Lukoil by the end of next year, the Associated Press reported.

BP PLC reported a pressure reading of 6,811 PSI inside the top of the Macondo well as of July 19, while the first relief well, being drilled by the Development Driller III, has reached a casing point at 17,862 ft total depth.

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